☕ Sunday Coffee: The 18,000-Mile Dream of Mrs. B

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Intro

The most valuable investment lessons don’t come from Wall Street—they come from life stories that show what grit, discipline, and long-term vision can accomplish.

Today’s story is about Rose “Mrs. B” Blumkin—a 4’10” immigrant who built a $60 million empire from nothing, earned Warren Buffett’s respect, and never stopped working until she was 103.

From a Straw Mattress to the American Dream

Rose was born in 1893 in a tiny village in what’s now Belarus. Her family was poor—really poor. She and her seven brothers slept on straw. Her mother ran a grocery store, her father was a rabbi.

By age six, Rose already knew she wanted to escape the violence and anti-Semitism around her. She decided she’d get to America—no matter how impossible it sounded.

At thirteen, she walked 18 miles barefoot to a train station (to save her new shoes) and hid under a seat to avoid paying the fare. By sixteen, she was managing six married men in business. At twenty-three, after sending her husband ahead to the US, she made the journey herself: Russia → China → Japan → Seattle. Eighteen thousand miles. Three months. One dream.

Selling Cheap and Telling the Truth

In Omaha, Nebraska, Rose couldn’t read or write English. But she could count. She tried different small businesses before finding her calling—furniture. In 1937, she sold her own furniture and appliances to raise $500 to start Nebraska Furniture Mart.

Her model was radical for the time:

• Tiny margins (buy for $10, sell for $10.10)

• High volume

• Absolute honesty (“Sell cheap and tell the truth. Don’t cheat nobody. Don’t take kickbacks.”)

Competitors hated her. Suppliers sued her. Judges dismissed the cases—and bought from her the next day. Customers loved her. She built loyalty by giving immigrants and refugees jobs in bookkeeping: “You don’t need English to count.”

Enter Warren Buffett

It started in 1982. In an interview with the Omaha World-Herald, Mrs. B mentioned she’d been getting plenty of offers to buy her store. One of those offers was from Buffett’s Berkshire Hathaway.

By 1983, Rose’s business was booming. She’d turned down multiple offers to sell—until Buffett came along.

When the reporter asked what she thought of Buffett, she shot back in classic Mrs. B style:

By then, Nebraska Furniture Mart was already the largest furniture store in America under one roof—famous for its rock-bottom prices and spotless reputation.

Buffett saw it for what it was: a business with a moat so deep it didn’t need fancy technology to keep competitors out—just culture, trust, and relentless value for customers.

The Negotiation? Almost Laughably Simple

• No lawyers. No bankers. Just two people talking across a table.

• One question from Buffett: “Do you have any debt?” When she said no, he knew the business was solid.

• Her price, her terms. Buffett didn’t haggle. He asked what she thought was fair. She named her number—about $60 million for 90%—and he agreed.

• No due diligence. Buffett didn’t order audits, comb through inventory, or run spreadsheets. He already knew Mrs. B’s reputation. Her word was enough.

It was a handshake deal built on trust, mutual respect, and the kind of business sense you just can’t teach in a classroom.

Buffett said,

She sold at 91, kept working until 103, and lived to 104.

And It Gets Even Better

At 95, Mrs. B “retired”… for about five minutes. (Come on, did anyone really think she’d stop?) Within months, she was back—this time opening a competing store right across the street, Mrs. B’s Clearance and Factory Outlet. It didn’t take long before her new venture became Omaha’s third-largest carpet store.

Buffett eventually gave in and bought that store too, merging it with Nebraska Furniture Mart. Buffett joked that next time, he wouldn’t let Mrs. B retire without first getting her to sign a non-compete.

Lessons for Long-Term Dividend Investors

Mrs. B’s story isn’t just an inspiring biography—it’s a blueprint for building lasting wealth.

1. Play the Long Game – She spent decades perfecting her model. Dividends work the same way—steady compounding beats quick wins.

2. Focus on Value, Not Hype – Selling cheap furniture honestly is like buying undervalued dividend stocks with real fundamentals.

3. Avoid Debt Like the Plague – Buffett’s only question was about debt. Healthy balance sheets are the backbone of sustainable dividends.

4. Adapt and Persist – Even in her 90s, she pivoted, started fresh, and competed. Great companies—and great investors—do the same when markets shift.

5. Protect Your Legacy – She sold to avoid family disputes and estate issues. Smart planning matters in business and in personal investing.

The Takeaway

Mrs. B didn’t just sell furniture—she built trust. That trust created a business so strong that Warren Buffett wanted in without changing a thing.

For us as dividend investors, the lesson is clear:

Find businesses with integrity, resilience, and a long-term mindset—and hold on.

After all, the best investments—like the best stories—only get more valuable with time.

***

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With respect for your well-being, Max

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